Putin confirmed his readiness to freeze oil production in Russia

Russian President Vladimir Putin said that Russia is fully prepared to freeze oil production at current levels, Interfax reports.

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According to him, Russia’s position remains unchanged.

“We are ready to freeze oil production on the shelf, which is now in this production,” — said the Russian head of the press-conference on results of the APEC summit in Peru.

He also stressed that the freezing of production should not cause any damage to the Russian energy sector.

“Companies that are leading the energy Minister are constantly in contact, and they are ready for such work”, — said Putin.

The President noted that it is impossible to talk about absolute certainty in reaching an agreement about the freezing, but the probability is very high as the basic contradictions that were inside the OPEC, in General if not removed, can be eliminated.

“Sensitive issues, we believe, no longer exists. Well, we will do everything from us, our partners in OPEC expect” — concluded Putin.

Recall that at the end of September this year, OPEC agreed to limit production in the range of 32.5-33 million barrels of oil per day, however, the limits for each country yet to be agreed.

The final decision on the agreement should be made on the official OPEC meeting on November 30 in Vienna.